The Day Ahead: PM Edition 2018-12-13

Bonds reached the first support level of 142^15 today. What next? If wave (a) is to only be an a-b-c formation, it could be done and thus any bounce set a lower high before rolling lower in the first steps of ‘a of (b)’. The other option is that (a) turns into a five wave sequence, which implies a modest new high to the December 10th high before a more serious retrace.